PIB makes eleventh acquisition as it snaps up Leatherhead-based MGA
PIB has boought specialist Leatherhead-based MGA aQmen Holdings – the consolidator’s eleventh acquisition in 17 months.
The new deal closely follows PIB’s acquisition of Croydon-based broker Morton Michel earlier this month.
AQmen provides policies to charities, social enterprises, faith-based organisations and recruitment agencies. The current management team at aQmen will remain at the helm of the business following the sale.
AQmen managing director Nick Rudnaj said: “Being acquired by PIB is a fantastic endorsement for aQmen and our team will continue to support brokers and clients to achieve success in our specialist sectors.”
He added: “It’s clear to me that PIB can help us grow and improve our offering, and I am looking forward to aQmen playing its part in helping realise the group’s exciting plans”
PIB has made the acquisition as part of its five-year strategy, under which it aims to grow through acquisitions as well as organically.
Speaking about PIB’s latest acquisition, PIB chief executive Brendan McManus said: “I am extremely pleased that aQmen is joining the PIB Group. They are leaders in the charity and faith sectors with an excellent brand which PIB looks forward to supporting over the coming years.”